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Price, principle, and the environment /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Price, principle, and the environment // Mark Sagoff.
remainder title:	Price, Principle, & the Environment
Author:	Sagoff, Mark,
Description:	1 online resource (x, 284 pages) :digital, PDF file(s). :
Notes:	Title from publisher's bibliographic system (viewed on 05 Oct 2015).
Subject:	Environmental economics. -
Online resource:	https://doi.org/10.1017/CBO9780511617416
ISBN:	9780511617416 (ebook)

Price, principle, and the environment /
Sagoff, Mark,

Price, principle, and the environment /Price, Principle, & the EnvironmentMark Sagoff. - 1 online resource (x, 284 pages) :digital, PDF file(s).

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Mark Sagoff has written an engaging and provocative book about the contribution economics can make to environmental policy. Sagoff argues that economics can be helpful in designing institutions and processes through which people can settle environmental disputes. However, he contends that economic analysis fails completely when it attempts to attach value to environmental goods. It fails because preference-satisfaction has no relation to any good. Economic valuation lacks data because preferences cannot be observed. Willingness to pay is benchmarked on market price and thus may reflect producer cost not consumer benefit. Moreover, economists cannot second-guess market outcomes because they have no better information than market participants. Mark Sagoff's conclusion is that environmental policy turns on principles that are best identified and applied through political processes. Written with verve and fluency, this book will be eagerly sought out by students and professionals in environmental policy as well as informed general readers.

ISBN: 9780511617416 (ebook)Subjects--Topical Terms:

555780
Environmental economics.

LC Class. No.: HC79.E5 / S222 2004

Dewey Class. No.: 333.7

Price, principle, and the environment /
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500 $a Title from publisher's bibliographic system (viewed on 05 Oct 2015).
520 $a Mark Sagoff has written an engaging and provocative book about the contribution economics can make to environmental policy. Sagoff argues that economics can be helpful in designing institutions and processes through which people can settle environmental disputes. However, he contends that economic analysis fails completely when it attempts to attach value to environmental goods. It fails because preference-satisfaction has no relation to any good. Economic valuation lacks data because preferences cannot be observed. Willingness to pay is benchmarked on market price and thus may reflect producer cost not consumer benefit. Moreover, economists cannot second-guess market outcomes because they have no better information than market participants. Mark Sagoff's conclusion is that environmental policy turns on principles that are best identified and applied through political processes. Written with verve and fluency, this book will be eagerly sought out by students and professionals in environmental policy as well as informed general readers.
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